Poland's PZU plans debt issue worth up to 750 mln euros

WARSAW, June 18 Wed Jun 18, 2014 1:29am EDT

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WARSAW, June 18 (Reuters) - The supervisory board at Poland's state-controlled insurer PZU agreed to a debt issue worth up to 750 million euros ($1 billion) in notes due not later than in 5 years, the group said late on Tuesday.

Earlier this year, eastern Europe's largest insurer said it might issue senior debt worth 300 million euros to 500 million euros to finance the acquisition of British insurer RSA's units in the region.

RSA has sold the bulk of its eastern European operations to PZU for some 360 million euros.

($1 = 0.7345 Euros) (Reporting by Adrian Krajewski)